Josh Sigurdson sits down with author and economic analyst John Sneisen to talk about the latest example of fraud coming from none other than Wells Fargo. Yup, they’re at it again!
Following not only the mortgage backed securities they were handing out eerily reminding people of the 2007 bubble burst, but the bank account fraud scandal they had to spend $142 million settling, Wells Fargo has now been caught committing fraud.

A new lawsuit shows Wells Fargo was charging people for insurance fraudulently and this is resulting in more than $80 million in refunds to 570,000 customers!

These are the types of schemes that perhaps a ten year old might think is a good idea, but obviously any sane person would think this to be insane!

This is racketeering! Wells Fargo charged hundreds of thousands of people for insurance they did not ask for and did not need, without letting them know! Over 20,000 of these people had their vehicle REPOSSESSED because of this scam!

And Wells Fargo didn’t come out and admit their mistake by themselves, they were forced to due to articles coming out in the press. Who knows how long this story would have been hidden and how many more people would have been falsely charged if it weren’t for the press!

A lawyer representing the plaintiffs in the latest lawsuit against Wells Fargo said the refunds aren’t enough.
“Refunds don’t address the fraud or inflated premiums, the delinquency charges, and the late fees,” he added. “It will be up to a jury or court to decide the appropriate remedy.”

One plaintiff says Wells Fargo charged him $598 for insurance though he repeatedly told the bank he had coverage from Allstate, and imposed a late fee after the unnecessary policy took effect. (According to a CNBC article on the case)

Of course Warren Buffet who loves Wells Fargo and has attempted to save their butt on a few occasions cannot be reached for comment.

Bankster and government market and monetary manipulation continues folks! Stay tuned as we continue to cover these insane stories!

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